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In trading on Friday, shares of Citigroup Inc’s 8.125% Non-Cumulative Preferred Stock, Series AA (NYSE: C.PRP) were yielding above the 7% mark based on its quarterly dividend (annualized to $2.0312), with shares changing hands as low as $29.00 on the day. This compares to an average yield of 5.66% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, C.PRP was trading at a 16.96% premium to its liquidation preference amount, versus the average premium of 2.84% in the “Financial” category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »

The chart below shows the one year performance of C.PRP shares, versus C:

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